How to report Final k-1 merger Energy transfer Operating LP ..

[linduca1216]

This was really a merger, but Additional Information Worksheet does not show this as an entry option.   Treat as a taxable transaction entering basis and sales price as the same amount?

[sjrcpa · Accepted solution]

Go to their website and get the information on reporting this. It was sent with the K-1.

[linduca1216]

I see it is considered a "disguised sale" and has no tax consequences, but in ProSeries, I'm not clear as to how to code Final K-1 and Amended K-1 checkboxes since it was neither discontinued or disposed of...   Simply mark Final K-1 and nothing else in that section?   This appears to solve the error problem..

[linduca1216]

If you mark Final K-1, you will get an error... For filing ignore error notice.  Another option is just not to mark Final K-1.   At least that is what I'm finding in addition to talking to ProSeries support.